• A Hyundai Elantra, Kona and Veloster outside Dubai Autodrome. All photos: Hyundai
    A Hyundai Elantra, Kona and Veloster outside Dubai Autodrome. All photos: Hyundai
  • An Elantra on the trackside.
    An Elantra on the trackside.
  • A Kona goes gravelly.
    A Kona goes gravelly.
  • A Veloster corners at speed.
    A Veloster corners at speed.
  • All three of the cars have a minimalist interior.
    All three of the cars have a minimalist interior.
  • The drivers swap vehicles on Dubai Autodrome's main straight.
    The drivers swap vehicles on Dubai Autodrome's main straight.
  • A convoy heads out of the pit lane.
    A convoy heads out of the pit lane.
  • The front end of an Elantra, decked out in Hyundai's N blue.
    The front end of an Elantra, decked out in Hyundai's N blue.
  • The cars re-enter the pit lane.
    The cars re-enter the pit lane.
  • A Kona shows off its pace.
    A Kona shows off its pace.
  • The boot on the Elantra.
    The boot on the Elantra.
  • A Veloster heads into the city.
    A Veloster heads into the city.
  • An Elantra beside Hyundai's racier version.
    An Elantra beside Hyundai's racier version.
  • The cars head off into the desert.
    The cars head off into the desert.
  • The assembled drivers smile for the camera.
    The assembled drivers smile for the camera.
  • A Kona in greener territory.
    A Kona in greener territory.
  • Inside the Elantra.
    Inside the Elantra.
  • A Kona on the city streets.
    A Kona on the city streets.
  • A Veloster hides out in a warehouse.
    A Veloster hides out in a warehouse.

Hyundai N series Veloster, Kona and Elantra assault Dubai Autodrome in show of strength


Simon Wilgress-Pipe
  • English
  • Arabic

Hyundai might not necessarily be a motoring manufacturer that readily comes to mind if you’re thinking of outrageously sporty vehicles. This, though, is not a view that is likely to linger if the new Veloster, Kona and Elantra N models are anything to go by.

The specs

Common to all models unless otherwise stated

Engine: 4-cylinder 2-litre T-GDi

0-100kph: 5.3 seconds (Elantra); 5.5 seconds (Kona); 6.1 seconds (Veloster)

Power: 276hp

Torque: 392Nm

Transmission: 6-Speed Manual/ 8-Speed Dual Clutch FWD

Price: TBC

These vehicles have arrived in the Middle East and Africa regions, and, while being designed to be useable as everyday road cars, there is more than a nod towards extreme fun as well. Hyundai’s N models are all about high performance and these three have that in abundance.

Basically, as the manufacturer tells us, “all N models have sportier exteriors, enhanced powertrains, track-ready suspension and exhaust notes”.

In case you’re wondering, the N stands for Namyang, which is the company’s research and development centre in South Korea. It also apparently references the Nurburgring track, with the shape of the logo being inspired by the German circuit’s curves.

The trio under the spotlight here give a good indication of what is on offer from the N series. Each has plenty of power under the bonnet, but there are differences in the ride experience.

As such, the vehicles are likely to appeal to a different clientele. The Elantra is a sound midsize sedan, the Kona an appealing hot hatch and the Veloster an even more compact, three-door version of its middle sibling. Plenty of choice there.

The interior of all three is minimalist, but that seems to fit in with the whole N philosophy.

One constant between the vehicles, though (aside from all sharing the same engine), is that there is joy a-plenty when you get behind the wheel and put your foot down.

Dubai Autodrome has some twisting corners that you get into after leaving the main straight, and while the thrills of a heads-down-and-charge tear down the longest part of the track isn’t without jollity, it’s the breaking into and tearing out of the curves that gives the most satisfaction.

The cars are lined up in the pit lane at Dubai Autodrome. Photo: Hyundai
The cars are lined up in the pit lane at Dubai Autodrome. Photo: Hyundai

These cars do this with ease and, while the grip is impressive, putting the power on early and coming out with the tyres wailing in a suitably discordant fashion is nothing short of uplifting.

This is what Hyundai refers to as the cars’ “corner rascal”, which probably gives a fairly accurate picture of what we’re talking about here.

All three are comfortable inside, too. Sometimes you can get thrown around a little when you’re on a track in a car without racing seats, but the Elantra, Kona and Veloster all cuddle you fairly effectively.

So that’s the track stuff in the bag. What about the practicality?

Well, that box is ticked as well – flooring the accelerator is all very grin-inducing, but this group are, without a doubt, vehicles that you can use every day. They look nice on your driveway, too, especially the ones decked out in the N brand’s signature pale blue colour. You can breeze around town or on the motorway, experiencing a comfortable, easy ride, and looking smart at the same time.

The thrills, then, are there if you want to get down the local track, but it’s not by any means compulsory.

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ABU%20DHABI%20CARD
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What to watch out for:

Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways

The hulls of three ships will be used for the roof

The hulls will painted to make the largest Italian tricolour in the country’s history

Several pillars more than 20 metres high will support the structure

Roughly 15 tonnes of steel will be used

Results

6pm: Dubai Trophy – Conditions (TB) $100,000 (Turf) 1,200m 

Winner: Silent Speech, William Buick (jockey), Charlie Appleby
(trainer) 

6.35pm: Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m 

Winner: Island Falcon, Frankie Dettori, Saeed bin Suroor 

7.10pm: UAE 2000 Guineas Trial – Conditions (TB) $60,000 (Dirt)
1,400m 

Winner: Rawy, Mickael Barzalona, Salem bin Ghadayer 

7.45pm: Al Rashidiya – Group 2 (TB) $180,000 (T) 1,800m 

Winner: Desert Fire, Hector Crouch, Saeed bin Suroor 

8.20pm: Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m 

Winner: Naval Crown, William Buick, Charlie Appleby 

8.55pm: Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m 

Winner: Al Tariq, Pat Dobbs, Doug Watsons 

9.30pm: Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m 

Winner: Dubai Icon, Patrick Cosgrave, Saeed bin Suroor  

THE%20STRANGERS'%20CASE
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Napoleon
%3Cp%3E%3Cstrong%3EDirector%3C%2Fstrong%3E%3A%20Ridley%20Scott%3Cbr%3E%3Cstrong%3EStars%3C%2Fstrong%3E%3A%20Joaquin%20Phoenix%2C%20Vanessa%20Kirby%2C%20Tahar%20Rahim%3Cbr%3E%3Cstrong%3ERating%3C%2Fstrong%3E%3A%202%2F5%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
THE BIO

Age: 33

Favourite quote: “If you’re going through hell, keep going” Winston Churchill

Favourite breed of dog: All of them. I can’t possibly pick a favourite.

Favourite place in the UAE: The Stray Dogs Centre in Umm Al Quwain. It sounds predictable, but it honestly is my favourite place to spend time. Surrounded by hundreds of dogs that love you - what could possibly be better than that?

Favourite colour: All the colours that dogs come in

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

Dolittle

Director: Stephen Gaghan

Stars: Robert Downey Jr, Michael Sheen

One-and-a-half out of five stars

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20SupplyVan%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2029%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20MRO%20and%20e-commerce%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Seed%3C%2Fp%3E%0A

SPECS

Toyota land Cruiser 2020 5.7L VXR

Engine: 5.7-litre V8

Transmission: eight-speed automatic

Power: 362hp

Torque: 530Nm

Price: Dh329,000 (base model 4.0L EXR Dh215,900)

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Queen

Nicki Minaj

(Young Money/Cash Money)

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

MATCH INFO

What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany

Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

The specs

Common to all models unless otherwise stated

Engine: 4-cylinder 2-litre T-GDi

0-100kph: 5.3 seconds (Elantra); 5.5 seconds (Kona); 6.1 seconds (Veloster)

Power: 276hp

Torque: 392Nm

Transmission: 6-Speed Manual/ 8-Speed Dual Clutch FWD

Price: TBC

Updated: February 01, 2022, 10:44 AM